LETTER OF BUDGET TRANSMITTAL. Division of Local Government 1313 Sherman Street, Room 521 Denver, Colorado 80203

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1 LETTER OF BUDGET TRANSMITTAL Date: January4, 218 To: Division of Local Government 1313 Sherman Street, Room 521 Denver, Colorado 823 Attached are the 218 budget and budget message for SPRING MESA METROPOLITAN DISTRICT in Jefferson County, Colorado, submitted pursuant to Section , C.R.S. This budget was adopted on December 7, 217. If there are any questions on the budget, please contact: Wendi McLaughlin, District Manager CliftonLarsonAllen, LLP 839 East Crescent Parkway, Suite 5 Greenwood Village, CO 8111 Tel.: (33) I, Wendi McLaughlin, as District Manager of the Spring Mesa Metropolitan District, hereby certify that the attached is a true and correct copy of the 218 budget. By:

2 RESOLUTION TO ADOPT 218 BUDGET, APPROPRIATE SUMS OF MONEY, AND AUTHORIZE THE CERTIFICATION OF THE TAX LEVY SPRING MESA METROPOLITAN DISTRICT A RESOLUTION SUMMARIZING REVENUES AND EXPENDITURES FOR EACH FUND, ADOPTING A BUDGET, LEVYING GENERAL PROPERTY TAXES FOR THE YEAR 218 TO HELP DEFRAY THE COSTS OF GOVERNMENT, AND APPROPRIATING SUMS OF MONEY TO THE VARIOUS FUNDS IN THE AMOUNTS AND FOR THE PURPOSES SET FORTH HEREIN FOR THE SPRING MESA METROPOLITAN DISTRICT, JEFFERSON COUNTY, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 218, AND ENDING ON THE LAST DAY OF DECEMBER, 218, WHEREAS, the Board of Directors of the Spring Mesa Metropolitan District has authorized its consultants to prepare and submit a proposed budget to said governing body at the proper time; and WHEREAS, the proposed budget has been submitted to the Board of Directors of the District for its consideration; and WHEREAS, upon due and proper notice, published or posted in accordance with the law, said proposed budget was available for inspection by the public at a designated public office, a public hearing was held on December 7, 217, and interested electors were given the opportunity to file or register any objections to said proposed budget; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues or planned to be expended from reserves or fund balances so that the budget remains in balance, as required by law; and WHEREAS, the amount of money necessary to balance the budget for general operating purposes from property tax revenue is $; and WHEREAS, the Board of Directors finds that it is required to temporarily lower the operating mill levy to render a refund for $; and WHEREAS, the amount of money necessary to balance the budget for voter-approved bonds and interest is $41,194; and WHEREAS, the amount of money necessary to balance the budget for contractual obligation purposes from property tax revenue as approved by voters from property tax revenue is $; and

3 WHEREAS, the amount of money necessary to balance the budget for capital expenditure purposes from property tax revenue as approved by voters or at public hearing is $; and WHEREAS, the amount of money necessary to balance the budget for refunds/abatements is $; and WHEREAS, the 217 valuation for assessment for the District as certified by the County Assessor of Jefferson County is $13,834,265; and WHEREAS, at an election held on November 4, 23, the District has eliminated the revenue and expenditure limitations imposed on governmental entities by Article X, Section 2 of the Colorado Constitution and Section , C.R.S., as amended. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SPRING MESA METROPOLITAN DISTRICT OF JEFFERSON COUNTY, COLORADO: Section 1. Adoption of Budget. That the budget as submitted, and attached hereto and incorporated herein by this reference, and if amended, then as amended, is hereby approved and adopted as the budget of the Spring Mesa Metropolitan District for calendar year 218. Section 2. Budget Revenues. That the estimated revenues for each fund as more specifically set out in the budget attached hereto are accepted and approved. Section 3. Budget Expenditures. That the estimated expenditures for each fund as more specifically set out in the budget attached hereto are accepted and approved. Section 4. Levy of General Property Taxes. That the Board of Directors does hereby certify the levy of general property taxes for collection in 218 as follows: A. Levy for General Operating and Other Expenses. That for the purposes of meeting all general operating expense of the District during the 218 budget year, there is hereby levied a tax of. mills upon each dollar of the total valuation of assessment of all taxable property within the District for the year 217. B. Temporary Tax Credit or Rate Reduction. That pursuant to Section , C.R.S. for the purposes of effect of a refund for the purposes set forth in Section 2 of Article X of the Colorado Constitution, there is hereby certified a temporary property tax credit or temporary mill levy rate reduction of

4 . mills upon each dollar of the total valuation of assessment of all taxable property within the boundaries of the District for the year 217. C. Levy for General Obligation Bonds and Interest. That for the purposes of meeting all debt retirement expense of the District during the 218 budget year, as the funding requirements of the current outstanding general obligation indebtedness is detailed in the following "Certification of Tax Levies," there is hereby levied a tax of 29. mills upon each dollar of the total valuation for assessment of all taxable property within the District for the year 217. D. Levy for Contractual Obligations. That for the purposes of meeting the contractual obligation expense of the District during the 218 budget year, as detailed in the following "Certification of Tax Levies," there is hereby levied a tax of. mills upon each dollar of the total valuation for assessment of all taxable property within the District for the year 217. E. Levy for Capital Expenditures. That for the purposes of meeting all capital expenditures of the District during the 218 budget year pursuant to Section (1.2) or (1.5), C.R.S., there is hereby levied a tax of. mills upon each dollar of the total valuation of assessment of all taxable property within the boundaries of the District for the year 217. F. Levy for Refunds/Abatements. That for the purposes of recoupment of refunds/abatements of taxes pursuant to Section (1)(a)(I)(B), C.R.S., there is hereby levied a tax of. mills upon each dollar of the total valuation of assessment of all taxable property within the boundaries of the District for the year 217. Section 5. Property Tax and Fiscal Year Spending Limits. That, being fully informed, the Board finds that the foregoing budget and mill levies do not result in a violation of any applicable property tax or fiscal year spending limitation. Section 6. Certification. That the appropriate officers of the District are hereby authorized and directed to certify by December 15, 217, to the Board of County Commissioners of Jefferson County, Colorado, the mill levies for the District herein above determined and set, or be authorized and directed to certify to the Board of County Commissioners of Jefferson County, Colorado, as herein above determined and set, but as recalculated as needed upon receipt of the final certification of valuation from the County Assessor on or about December 1, 217, in order to comply with any applicable revenue and other budgetary limits or to implement the intent of the District. That said certification shall be in substantially the form set out and attached hereto and incorporated herein by this reference.

5 Section 7. Appropriations. That the amounts set forth as expenditures and balances remaining, as specifically allocated in the budget attached hereto, are hereby appropriated from the revenue of each fund, to each fund, for the purposes stated and no other. ADOPTED this 7th day of December, 217. SPRING MESA METROPOLITAN DISTRICT President

6 ATTACH COPY OF THE ADOPTED BUDGET AND THE CERTIFICATION OF TAX LEVIES

7 Spring Mesa Metropolitan District Adopted Budget General Fund For the Year ended December 31, 218 Adopted Adopted Actual Budget Actual Estimate Budget /3/ Beginning fund balance Revenues: Assessments 272 $85 Reimbursements Misc/interest income $ 146,44 $ 12,614 $ 13,796 $ 13,796 $ 81, , ,44 232,99 277,44 277, Total revenues 272, ,44 232, ,47 277,54 Total funds available 418, ,54 335, , ,766 Expenditures: Legal Accounting and audit Insurance Elections Miscellaneous Projects-maintenance/replacement Pond maintenance Underdrain maintenance Landscape maintenance Landscape projects Open Space maintenance Inigation repair Snow removal Utilities District Management Administration Emergency reserve (3%) Capital replacement fund Contingency Total expenditures Ending fund balance Assessed Valuation 11,864 1, , 9,692 15, 8,769 1, 15, 6,684 7, 6, , 1, , 5,472 1, 4,511 5, 1, 41,684 7, 58,969 7, 5, - 1, - 3, 5, 147,446 5, 69,65 1, 4, 35, 45, 13,844 15, 12,422 14, 15, 5,75 15, 1,515 8, 15, 27,816 25, 19,155 25, 25, 2,223 25, 16,331 16, 3, 1,666 5, 6,19 1, 5, - 7, ,55 12, 2, 2, 2, , , , , ,4 358,766 $ 13,796 $ - $ 97,652 $ 81,226 $ - $ 14,45,86 $ 14,48,33 $ 13,834,265 Mill levy - -

8 Spring Mesa Metropolitan District Adopted Budget Capital Projects Fund For the Year ended December 31, 218 Adopted Adopted Estimate Budget Actual Estimate Budget /3/ Beginning fund balance Revenues: Transfer from General Fund Misc income (HOA 25%) Total revenues Total funds available Expenditures: Pond Projects Toe and interceptor drains Uomingency Total expenditures Ending fund balance $ - $ 11,985 $ 1,44 $ 1,44 $ 9,27 12, 2, 2, 2, 2, 12, 2, 2, 2, 2, 12, 31,985 3,44 3,44 29,27 1,56 2, 21,17 21,17 29,27 1, , ,27 $ 1,44 $ 11,985 $ 9,27 $ 9.27 $ -

9 Spring Mesa Metropolitan District Adopted Budget Debt Service Fund For the Year ended December31, 218 Adopted Adopted Actual Budget Actual Estimate Budget /3/ Beginning fund balance Revenues: Property taxes Specific ownership taxes Interest income Total revenues Total funds available Expenditures: Bond principal- Series 215 Bond interest - Series 215 Paying agent fees Treasurer fees Total expenditures $ 87,91 $ 132,838 $ 142,15 $ 142,15 $ 154, , , ,841 41,194 32,717 29,249 29,81 36, 28,84 1,978 1, 2,563 3, 2,5 484, ,9 45, , , ,263 58, , , ,356 15, 155, 155, 16, 273, ,1 139,5 278,1 275, 167 1,5 3,5 5, 5, 6,699 6,268 6,268 6,268 6,18 43,158 44, , , ,18 Ending fund balance $ 142,15 $ 14,6 $ 443,51 $ 154,578 $ 14,338 Assessed Valuation $ 12,232,82 $ 14,48,33 $ 13,834,265 Mill Levy

10 Summary of Value by Class Assessment Roll: Mobile Home Roll - Level 8,Personal Roll - Level 3,Real Roll - Level 8,StateAssessed Roll - Level 1 Assessment Year: 217 Assessed Values TA: SPRING MESA METROPOLITAN DIST PIN Count: 32 I Classification Land Improvements Vacant Land Residential 3,982,838 9,658,31 Commercial Industrial Agricultural Natural Resources 96 Producing Mines Oil and Gas State Assessed 739 Total Taxable 3,982,934 9,659,4 Possessory mt Count Total Personal Count Total ,641,139 13,641, , , ,641, , ,834,265 Federal State County Po!iticalSubd Religious Private Charitable All Other Total Exempt 1,511,142 1,511, ,511,142 1,511,142 1,511,142 1,511,142 Exempt Count 28 Taxable Count 275 Total countlorta 33

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12 CERTIFICATION OF TAX LEVIES, continued TifiS SECTION APPLIES TO TITLE 32, ARTICLE 1 SPECIAL DISTRICTS THAT LEVY TAXES FOR PAYMENT OF GENERAL OBLIGATION DEBT ( C.RS.). Taxing entities that are Special Districts or Subdistricts of Special Districts must certif' separate mill levies and revenues to the Board of County Commissioners, one each for the funding requirements of each debt ( , C.R.S.) Use additional pages as necessary. The Special District's or Subdistrict's total levies for general obligation bonds and total levies for contractual obligations should be recorded on Page 1, Lines 3 and 4 respectively. CERTIFY A SEPARATE MILL LEVY FOR EACH BOND OR CONTRACT: BONDS: 1. Purpose of Issue: Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: $7,42, General Obligation Refunding Bonds 215 December 11, %-4.25% December 1, $41,194 Purpose of Issue: Series: Date of Issue: Coupon Rate: Maturity Date: Levy: Revenue: CONTRACTS': 3. Purpose of Contract: Title: Date: Principal Amount: Maturity Date: Levy: Revenue: 4. Purpose of Contract: Title: Date: Principal Amount: Maturity Date: Levy: Revenue: Use multiple copies of this page as necessary to separately report all bond and contractual obligations per , C.R.S. Form DLG 7 (rev 6/7) Page 2 of 4

13 NOTICE AS TO PROPOSED BUDGET AND NOTICE CONCERNING BUDGET AMENDMENT NOTICE IS HEREBY GIVEN that the proposed budget for the ensuing year of 218 has been submitted to the Spring Mesa Metropolitan District ("District"). Such proposed budget will be considered at a regular meeting and public hearing of the Board of Directors of the District to be held at West Woods Community Station, 6644 Kendrick Drive, Arvada, Colorado, at 7: p.m. on Thursday, December 7, 217. NOTICE IS FURTHER GIVEN that an amendment to the 217 budget of the District may also be considered at the above-referenced meeting and public hearing of the Board of Directors of the District. A copy of the proposed 218 budget and the amended 217 budget, if required, are available for public inspection at the offices of CliftonLarsonAllen LLP, 839 East Crescent Parkway, Greenwood Village, Colorado. Any interested elector within the District may, at any time prior to final adoption of the 218 budget and the amended 217 budget, if required, file or register any objections thereto. Dated: November 3, 217 SPRING MESA METROPOLITAN DISTRICT By: /s/ Wendi McLaughlin District Manager

14 Colorado Community Media 9137 Ridgeline Blvd., Suite 21 Highlands Ranch, Co 8129 AFFIDAVIT OF PUBLICATION State of Colorado } County of Jefferson } ss This Affidavit of Publication for the Wheat Ridge Transcript, a weekly newspaper, printed and published for the County of Jefferson, State of Colorado, hereby certifies that the attached legal notice was published in said newspaper once in each week, for 1 successive week(s), the last of which publication was made on the 3th day of November A.D., 217, and that copies of each number of said paper in which said Public Notice was published were delivered by carriers or transmitted by ni all to each of the subscribers of said paper, according to their accustomed mode of business in this office. Public Notice NOTICE AS TO PROPOSED BUDGET AND NOTICE CONCERNING BUDGET AMENDMENT NOTICE IS HEREBY GIVEN that the proposed budget for the ensuing year of 218 has been submitted to the Spring Mesa Metropolitan District ( District"). Such proposed budget will be considered at a regular meeting and public hearing of the Board of Directors of the District lobe held at West Woods Community Station, 6644 Kendrick Drive, Arvada, Colorado at 7: p.m. on Thursday, December 7, 217. NOTICE IS FURTHER GIVEN thatan amendment to the 217 budget of the District may also be considered at the above-referenced meeting and public hearing of the Board of Directors of the District. A copy of the proposed 218 budget and the amended 217 budget, if required, are available for public inspection at the offices of CliftonLarsonAllen LIP, 839 East Crescent Parkway, Greenwood Village, Colorado Any interested elector within the District may, at any time prior to final adoption of the 218 budget and the amended 217 budget, if required file or register any objections therelo Dated: November 3, 217 SPRING MESA METRPOLrTAN DISTRICT fly: 1sf WendF McLaughlin District Manager Lega[ Notice N: First Publication: November 3, 217 Lest Publication: November 3, 217 Pubhsher: The Golden Transcript and the Arvada Press For the Wheat Ridge Transcript State of Colorado } County of Douglas } ss The above Affidavit and Certificate of Publication was subscribed and sworn to before by the above named Gerard Healey, publisher of said newspaper. who is personally known to me to be the identical person in the above certificate on the 3th day of November A.D., 217. Gerard Healey has verified to me that he has adopted an electronic signature to function as his signature on this document. atherl.crom Notary Public My commission ends December 18, 219 HEATHER L. CROMPTON 4OTARV PUBUC &ATE OF COLORADO NOTARY ID CorssIon expaoc date DeceiTlb 18,219